Business
Restructuring
Restructuring.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n RNS Number : 3675U Sareum Holdings PLC 14 May 2008 \n \n\n\n\n\nFor immediate release\n\n\n14 May 2008\n\n\n\n\n\n\nSAREUM HOLDINGS PLC\n(\"Sareum\" or \"the Company\")\n\nRestructuring\n\nSareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery business, announces that, as part of the strategic review that was announced on 2 May 2008, the Company has implemented a staff restructuring process in order to reduce its cost base and prepare itself for any potential acquisition or re-financing whilst the future business strategy is determined. As a result of this restructuring, Sareum's overall costs will be reduced by approximately one third. The Company's core capabilities will remain essentially unchanged and Sareum will still continue to deliver on its ongoing research service contracts and to progress its in-house cancer drug discovery programs. \n\n\n- Ends- \n\nFor further information please contact: \n\n\n\n\n\nSareum Holdings plc\n\n\n01223 497700\n\n\n\n\nTim Mitchell, Chief Executive Officer\n\n\n \n\n\n\n\nBuchanan Communications\n\n\n020 7466 5000\n\n\n\n\nTim Anderson, Mary-Jane Johnson \n\n\n \n\n\n\n\nGrant Thornton Corporate Finance\n\n\n020 7383 5100\n\n\n\n\nPhilip Secrett, Colin Aaronson\n\n\n \n\n\n\n\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCFKNKPABKDFPD\n ","length":4929,"tagName":"div"}]